Nerve Repair Market Assessment, By Product [Neurostimulation Devices, Biomaterials, Neuromodulation Devices], By Application [Nerve Grafting, Stem Cell Therapy, Neurostimulation and Neuromodulation Surgeries, Direct Nerve Repair/Neurorrhaphy, Others], By

Nerve Repair Market Assessment, By Product [Neurostimulation Devices, Biomaterials, Neuromodulation Devices], By Application [Nerve Grafting, Stem Cell Therapy, Neurostimulation and Neuromodulation Surgeries, Direct Nerve Repair/Neurorrhaphy, Others], By End-user [Hospitals, Ambulatory Surgical Centers, Specialty Clinics], By Region, Opportunities and Forecast, 2017-2031F

The global nerve repair market is projected to witness a CAGR of 11.77% during the forecast period 2024-2031F, growing from USD 8.12 billion in 2023 to USD 19.77 billion in 2031F. The different factors supporting the growth of the market include the increasing geriatric population, rising research activities, growing incidences related to nerve injuries, and strategic collaborations and acquisitions.

The growing prevalence of various chronic neurological conditions, such as Parkinsons' and Alzheimer’s disease, is bolstering the requirement for nerve repair solutions. Increasing efforts towards ensuring the provision of enhanced treatment solutions, coupled with technological advancements, are supporting the nerve repair market growth. Rising research activities are aiding researchers in identifying advanced and novel solutions for treating and diagnosing several neurological diseases. These activities also provide insights into diseases and disorders and support the clinical practice of the treatment. The growing collaborations and acquisitions by various companies are ensuring that the innovative products and technologies have a broad market outreach and physicians are provided with a range of evidence-based treatment options that address multiple pain targets.

The increased provision of clearance by the Food and Drug Administration (FDA) to different devices for both home and clinical use is further providing lucrative growth opportunities to the market. For instance, in 2022, MyndTec received 510(k) clearance for MyndMove 2.0, their second-generation neuromodulation MyndMove System. The MyndMove System is an eight-channel neuromodulation device that allows the delivery of short electrical pulses for stimulating enhanced motor recovery and muscle contraction, following a spinal cord injury or stroke. The system includes hand and foot switches, electrodes, stimulator unit, and integrated software, allowing users to choose from different pre-programmed stimulation protocols for customizing the stimulation intensities for different patients.

Increasing Introduction of Novel Products Support Nerve Repair Market Growth

The rising introduction of novel products can be attributed to the increased research and development activities. The various research activities are focused on enhancing neuromodulation and neurostimulation technologies, along with the development of next-generation neuromodulation devices. Various companies are also investing in launching new medical devices. For instance, in 2023, Axogen, a Tempa-based developer of different surgical solutions, including human tissue grafts, launched nerve repair products for cancer and trauma patients. The company is commercializing and testing products to address two major requirements of the healthcare sector: peripheral nerve repair and regeneration. Over the past several years, the company has introduced various novel nerve repair applications that are utilized in Axoguard and Avance product lines. The patients who were scheduled for the procedure were seeking relief from a condition that was caused by a surgical procedure or a nerve defect. This included nerve reconstruction following the removal of neuromas, nerve decompression, breast reconstruction post-mastectomy, and oral and maxillofacial procedures.

Growing Prevalence of Neurological Disorders

The increasing prevalence of different neurological disorders is one of the major factors supporting the market expansion and bolstering the global nerve repair market demand. According to the World Health Organization (WHO), neurological disorders are the second leading cause of death across the globe, accounting for approximately 9 million deaths every year, and are the leading cause of disability-adjusted life years. The increase in the number of neurological disorders can be attributed to the growth of the geriatric population. Due to aging, the number of patients with neurodegenerative diseases and neurological problems is increasing. The rise in the number of vehicular accidents is another major factor boosting the number of nerve injuries. The increasing prevalence of different neurological disorders, such as Alzheimer’s and Parkinson’s disease, can also be attributed to the growing exposure to environmental toxins, which, in turn, is one of the factors responsible for the global nerve repair market expansion.

North America Accounts for a Significant Share of the Market

North America holds a significant nerve repair market share in the global landscape due to the availability of technologically advanced solutions and devices, presence of a well-established healthcare infrastructure, and the increasing prevalence of neural disorders. The strong presence of various market players and increasing research and development activities are supporting novel product development, thereby accelerating the region’s expansion in the market. Strategic mergers and acquisitions in the region are further expected to offer lucrative growth opportunities to the market. For instance, Boston Scientific, headquartered in Massachusetts, United States, known for providing innovative medical solutions, acquired Relievant Medsystems, the company known for offering Food and Drug Administration-cleared Intracept Intraosseous Nerve Ablation System. The basivertebral nerve ablation therapy is expected to enhance Boston Scientific’s chronic pain portfolio which includes interspinous spacer procedure, radiofrequency ablation, and spinal cord stimulation. The completion of the acquisition is expected to offer physicians a wide range of evidence-based treatment options for addressing multiple pain targets.

Neuromodulation Devices Account for Significant Global Nerve Repair Market Share

The neuromodulation devices are anticipated to account for a significant share of the market over the forecast period. This growth can be attributed to the technological advancements in device development and rising awareness among end users. The increasing provision of funding by various governments for supporting different R&D activities is further boosting segment expansion. Additionally, the Food and Drug Administration (FDA) is also approving neuromodulation devices. For instance, in 2023, the FDA approved a bimodal neuromodulation device, the first of its kind for treating tinnitus. The device provides electrical stimulation to the tongue and non-invasive sound for alleviating symptoms of chronic tinnitus. The decision was based on the findings of the TENT-A3 trial. The single-arm prospective study aimed to determine if tongue stimulations offered additional benefits as opposed to sound-only treatment. The study compared the effects of six weeks of sound therapy alone versus six weeks of bimodal neuromodulation from March to October 2022.

Stem Cell Therapy Witness Significant Growth

The expansion of the segment can be attributed to the rising demand for effective treatment solutions, increasing research and development activities, the growing prevalence of neurological conditions, and supportive government initiatives. The rising research and development activities are aiding researchers in developing novel treatment solutions for repairing nerves. For instance, a team of researchers from the University of Pennsylvania School of Dental Medicine and Perelman School of Medicine created a new approach that relies upon the versatility of gingiva-derived mesenchymal stem cells for surgically repairing injured peripheral nerves. This new approach marries the biological scaffold with the power of regeneration of gingiva-derived mesenchymal stem cells, enabling the functional recovery of nerves. The Penn team was able to grow Schwann-like cells from the human gingiva-derived mesenchymal stem cells (GMSCs). The Schwann-like cells are the pro-regenerative cells of the peripheral nervous system that are responsible for making neural growth factors and myelin.

Future Market Scenario (2024 – 2031F)

Different research and development activities are being conducted to assess the safety and efficacy of different treatment solutions available for nerve repair. For instance, the University of Miami is conducting an interventional study to assess the safety of the autologous human Schwann cell augmentation in participants with severe peripheral nerve injury for nerve autograft repair. For individuals with acute severe peripheral nerve injury, it is hypothesized that the augmentation of nerve autograft repair with autologous human Schwann cells can potentially enhance myelin repair and axonal regeneration, improving functional recovery. The study is expected to conclude in September 2025. Different emerging technologies are paving the way for the next generation of medical devices that can be deployed by surgeons during surgeries for healing nerves, along with other tissues shortly. These devices are expected to offer various benefits such as deployment by minimally invasive procedures, reduced complexity of surgeries, and faster healing.

Key Players Landscape and Outlook

Key participants in the global repair market are AxoGen, Inc., Abbott Laboratories, Baxter International, Inc., Boston Scientific, Inc., and Medtronic Plc. The market expansion is supported by the increasing prevalence of neural disorders and strategic partnerships between various companies.

For instance, in 2023, MyndTec Inc. and Fourier Intelligence announced a strategic partnership to support the distribution of MyndMoveTM a functional electrical stimulation-based non-invasive intervention. The global network of Fourier spans over fifty countries, ensuring a wide market outreach for innovative products and technologies. MyndMoveTM therapy is supported by different clinical studies such as randomized controlled trials in spinal cord injuries and strokes. The stimulation protocols in MyndMoveTM allow doctors to stimulate functional, natural, and purposeful movements in patients.